Inflation Fears Instill Drop in Asian Shares; Tata Motors one of the Top Gainers

  • Stock Market News
Inflation Fears Instill Drop in Asian Shares; Tata Motors one of the Top Gainers
Credit: © Reuters.

After days of trading on an all-time high, BSE Sensex 30 and Nifty traded on a flat note on Tuesday, as major gainers’ profits were nullified by some unexpected losses.

Tata Motors (NS: TAMO ) flourished as the top Nifty gainer with its share price hitting a 52-week high at Rs 429.35 at 10:00 am on Tuesday, after announcing its earnings results for Q2 FY22. Jaguar Land Rover sales were up 24% YoY at 2,51,689 units.

Moreover, the global sales of all the commercial vehicles belonging to Tata Motors rose by 57% at 89,055 units for the same period.

While sectors indices like auto, FMCG, metal, pharma and healthcare gained, other sectors offset these gains.

Bajaj Auto (NS: BAJA ), Titan (NS: TITN ), Eicher Motors (NS: EICH ), Hindalco, ITC (NS: ITC ), Hero MotoCorp (NS: HROM ), Cipla (NS: CIPL ), Tata Steel (NS: TISC ), JSW Steel (NS: JSTL ), SBI (NS: SBI ) and Wipro (NS: WIPR ) were the top gainers.

On the other hand, IT giants like Infosys (NS: INFY ), M&M (NS: MAHM ), HCL Tech (NS: HCLT ), and other stocks including ICICI Bank (NS: ICBK ), Indian Oil (NS: IOC ), Shree Cements (NS: SHCM ), Adani (NS: APSE ) Ports, SBI Life, IndusInd Bank (NS: INBK ) and Coal India (NS: COAL ) were the top losers.

Flat Nifty and Sensex can be credited to the drop in Asian shares, resulting from a global energy crunch. Inflation fears are having an effect on investors’ sentiments.

Furthermore, given skyrocketing gains in global oil prices which hit multi-year peaks, there are fears instilled across markets about soaring prices and stricter monetary policies.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

  • Srinivas Kalakonda @Srinivas Kalakonda
    Where it is the Tata Motors stop rally
    Like 0

Related Articles